(This notification has been superseded vide CUS NTF NO. 62/2004 DATE 12/05/2004)
CUS NTF NO. 80/1997 DATE 21/10/1997
Gold and silver - imported by MMTC, HHEC, STC, etc.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962
(52 of 1962), the Central Government, being satisfied that it is necessary in the public
interest so to do, hereby exempts goods of the description specified in column (2) of the
Table hereto annexed and falling within Chapter 71 of the First Schedule to the Customs Tariff
Act, 1975 (51 of 1975), when imported into India by the Minerals and Metals Trading
Corporation of India Limited, the Handicraft and Handloom Export Corporation, the State
Trading Corporation, the PEC Limited or any other agency authorised by the Reserve Bank of
India, for sale in the domestic market, from so much of the duty of customs leviable thereon
which is specified in the said First Schedule as is in excess of the amount calculated at the
rate specified in the corresponding entry in column (3) of the said Table and from the whole
of the additional duty of customs leviable thereon under section 3 of the said Customs
Tariff Act.
TABLE
| S.No. | Description of goods | Rate |
| (1) | (2) | (3) |
| 1. |
Gold bars, other than tola bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units, and gold coins | Rs. 100 per 10 gms. |
| 2. | Gold in any form including liquid gold and tola bars, other than at S.No. 1 above
(In S.No.2,column (2) has been substituted vide
CUS NTF NO. 39/2003 DATE
06/03/2003)
[OLD Gold in any form other than at S.No. 1 above including tola bars and ornaments, but excluding ornaments studded with stones or pearls] | Rs. 250 per 10 gms. |
| 3. | Silver in any form | Rs. 500 per kg. |
(Table has been substituted vide CUS NTF NO. 28/2003 DATE 01/03/2003)
[OLDTABLE
| S.No. | Description of goods | Rate |
| (1) | (2) | (3) |
| 1. | Gold in any form including liquid gold | Rs. 250 per 10 grams |
| 2. | Silver in any form | Rs. 500 per kg ] |
Explanation :- For the purposes of this notification, the expressions "Gold in any form including liquid gold" and "Silver in any form" shall include include medallions and coins, but shall not include jewellery made of gold or silver
and foreign currency coins.
(Please refer CUS NTF NO.52/2003 DATE 31/03/2003)
Amended by Notifications
No. 4/98-Cus., dated 24-2-1998;
No. 28/98-Cus., dated 2-6-1998
No. 2/99-Cus., dated 4-1-1999. and
No. 20/2001-Cus, dated 01-03-2001.
(Please refer
CUS CIR NO. 40/2004 DATE 04/06/2004)
(Please refer Cus Cir No.95/2002 Date 23/12/2002)
(Please refer Cus Cir No.50/2002 Date 12/08/2002)
(Please refer Cus Cir No.36/2002 Date 28/06/2002)
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